What happened? It looks like the decline in EUR/CHF to 1…
USD/CHF: 'Double Top' led to decline
2019-11-11 • Updated
The last 'Double Top' pattern led to the current decline. There's also a 'Flag' pattern, which has been broken, but the 89 Moving Average acted as support. Thus, it's likely to have an upward correction towards the previously tested resistance at 1.0067. The subsequent pullback from this level could lead to another decline towards the next support at 1.0023, so we could have a new local low.
The US Dollar has been losing value against the Swiss franc for more than a month now. Let's examine where it might be going.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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